We are proud to announce that LAWMORE represented Brand24 during negotiations pertaining to the entry into the company of the Inovo sp. z o.o. fund, which took up 5% of company’s shares, investing the amount of PLN 1.4 million. Thus, the company’s valuation increased to PLN 28 million.
The funds obtained within another founding round are to be allocated mainly to foreign expansion, for, as admits Michał Sadowski, the founder and president of the management board of Brand24, the company aspires to become the global leader in its business.
The startup from Wroclaw is the author of a platform operating in the SaaS model which offers tools for monitoring the Internet, in particular social media, for any information related to a particular company which decides to use the services. This solution allows anyone who buy the subscription package to receive particulars on the references to his/her company in the web. With the use of the tool the user can, among other things, optimise the content of information sent by the given brand, as well as to get to know the target groups better, which the brand is intended to reach. The entrepreneur receives feedback on the way his/her brand is perceived in the web, which makes it easier to tailor services and products to the market’s needs.
Soon after finalising the mentioned transaction, another new shareholders, who at the same time are the founders of LiveChat, joined the company: Mariusz Ciepły, Bartosz Olchówka, Szymon Klimczak, as well as the Venture Incubator SA fund. Also in these transactions lawmore had the opportunity to represent Brand24.
Thanks to experience of the new shareholders and their knowledge of global market, as well as the obtained funds, a completely new prospect opens up for the startup from Wroclaw. We hope that due to the involvement and enthusiasm for work of the entire team soon we will congratulate the company on further successes.